German Ifo index beats forecasts, rallying euro

MADRID (MarketWatch) — The euro surpassed $1.29 on Friday after the German Ifo index of business sentiment beat expectations with a rise to 101.4 in November, according to media reports. Economists had been expecting the index to drop to around 99.5, as the German economy has suffered from a downbeat outlook for the global economy and euro-zone problems. That was reportedly the first rise in the business climate index in eight months. Economists at Ifo reportedly said the German economy is holding up despite the crisis in the euro zone. The euro was trading just above $1.287 ahead of the release. It last traded around $1.2897. Meanwhile, data from France showed business sentiment rebounded in November, but remained near its lowest level in three years.

German Ifo index beats forecasts, rallying euro

MADRID (MarketWatch) — The euro surpassed $1.29 on Friday after the German Ifo index of business sentiment beat expectations with a rise to 101.4 in November, according to media reports. Economists had been expecting the index to drop to around 99.5, as the German economy has suffered from a downbeat outlook for the global economy and euro-zone problems. That was reportedly the first rise in the business climate index in eight months. Economists at Ifo reportedly said the German economy is holding up despite the crisis in the euro zone. The euro was trading just above $1.287 ahead of the release. It last traded around $1.2897. Meanwhile, data from France showed business sentiment rebounded in November, but remained near its lowest level in three years.